Bitcoin (BTC) continues to consolidate around the $118,000 level in recent days, following new records in recent weeks. While Bitcoin leaves its rise to Ethereum (ETH) and altcoins, ETH is confidently advancing towards its new ATH, having gained over 50% since July 2. At this point, an analyst attributed the rises seen in Bitcoin and Ethereum to increased institutional demand, while saying that the altcoin season is still uncertain. A Major Sell and Drop in Bitcoin is Not Expected! Bitcoin (BTC) has been holding steadily near its ATH, largely fueled by sustained demand from institutional investors, particularly crypto treasury firms, Presto Research analyst Min Jung noted, The Block reported. Stating that these investors are generally long-term investors, Jung stated that a selling wave in Bitcoin is unlikely in the short term. However, Jung warned that this could lead to volatility in the short term, noting that older wallets are making a profit following the recent price surge. “Bitcoin continues to trade near all-time highs, supported by sustained institutional demand, particularly from crypto treasury firms. Given the nature of these buyers, it seems unlikely they will become aggressive sellers in the near term.” Ethereum Rises, But Uncertainty Remains for Altcoin Season! Jung also pointed out that Ethereum (ETH) is also experiencing strong institutional momentum after Bitcoin. Noting that more public companies are adding ETH to their institutional reserves, Jung emphasized that spot ETH ETFs have recently recorded record-breaking net inflows, even surpassing BTC ETFs in the same days. At this point, the analyst added that it is unclear whether the current rally will be reflected in smaller altcoins as the current bull cycle is institutionally driven. “The big question now is whether this momentum can be sustained after last week's strong rally. While we are starting to see some bullish signals for altcoins, the current rally is largely driven by institutions, so it remains unclear whether this strength will spread beyond large-cap altcoins to the broader altcoin market. *This is not investment advice. Continue Reading: Top Analyst Reveals Bitcoin, Ethereum, and Altcoin Expectations! "Good News for BTC, Bad News for Altcoins!" Here's Why!
